Good morning; here's what the Oilman has for you today:

• Forget Global Warming. It’s Global Boiling Time.

• TC Energy To Spin Off Pipeline Business

• Upcoming Oil and Gas Events

• Tweet of the Day

Forget Global Warming. It’s Global Boiling Time.

In case you thought we’ve seen the worst of climate panic, you were wrong.

The head of the UN has just said that the era of global warming is over, and we’re now in the era of “global boiling.”

When in doubt, crank up the alarmism

“The era of global warming has ended; the era of global boiling has arrived,” Antonio Guterres said last week.

He then claimed this July was the hottest ever recorded.

After a relentless wave of false media reports about scorching temperatures.

After a flood of dark-red maps making 90 seem like extreme heat.

After a burst of radical environmentalist protests with people gluing themselves to roads, risking amputation.

I can’t help but wonder: why now?

The answer is easy: because people are getting tired of the whole shebang.

Reality is what you run into...

... when you are wrong.

Dallas Willard knew this, and the Guterres gang know it, too.

They know there is no way anything can replace the reliable energy from oil and gas.

But because there’s so much money and reputation staked on the fantasy of wind and solar, they can’t afford to sing out of tune.

So, they’re just doubling down.

Despite witness accounts of a perfectly normal summer in Europe.

Despite people calling out the media for blatant disinformation.

Despite, or because of, the fact climate change is no longer a top concern for a lot of people.

Maybe it never was.

That’s why the “global boiling” tune sounds so desperate.

Because it is.

What's next? Probably the era of global plasma.

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TC Energy To Spin Off Pipeline Business

TC Energy, the Canadian pipeline major, is spinning off its core business and focusing on natural gas.

The company says this will boost shareholder value and improve growth.

Restructuring or something else

The split of TC Energy’s gas and pipeline business is officially the result of a two-year strategic review.

It is a way, per the company, to “unlock shareholder value by providing both companies with the flexibility to pursue their own growth objectives through disciplined capital allocation, enhancing efficiencies and driving operational excellence.”

That’s some strong corporate speak right there.

Below that, however, the move smacks of a company trying to distance itself from what makes it money.

Because it’s got a bad reputation that’s getting worse by the day.

Pipelines are the Devil

TC Energy, if you remember, was until recently called TransCanada.

It is the operator of, among others, the Keystone and the Keystone XL pipelines.

The latter project, never finished, was one of the focal points of the new wave of environmental protests.

The former, Keystone, turns into a focal point every time something leaks out of it, however little.

With so much animosity to pipelines, it’s not hard to understand why TC Energy decided on the move.

Now, it’s going to focus on its lower-carbon business, such as natural gas.

In other words, TC Energy is hopping the transition train.

But it’s not deranged enough to sell the pipeline business. Yet.

Upcoming Oil & Gas Events

• July 31-Aug 2: 2023 Railroad Commission of Texas

• August 3-4: OOGA Summer Meeting, Belmont Hills Country Club, St Clairsville, OH

• August 9: Petroleum Alliance of Oklahoma Wildcatters, Petroleum Club of Oklahoma City

Around the Global Patch

🇦🇺 Australia's carnarvon set to finalize bedout asset divestment.
🇨🇳 China's trailblazing expansion into central Asia.
🇷🇺 Foreign-owned domestic driller now under Russian control.

Tweet of the Day

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